Northern Graphite Corporation provided an update on the development, production, and commercialization of Porocarb®, a patented high- performance macro-porous hard carbon material aimed at boosting performance in next generation battery chemistries for electric vehicles ("EVS"), including both lithium ion and solid state batteries. Since the launch of its Battery Materials Group ("NGCBM") in February, Northern has signed non- disclosure agreements with top-tier global battery manufacturers from South Korea, China, and several Western countries who are keen on utilizing Porocarb® as a performance additive in lithium-Ion batteries or as a protective carbon coating for All-Solid-State-Battery ("ASSB") anodes. NGC Battery Materials Group was formed through the acquisition of the assets and R&D team of the battery division of Germany's Heraeus Group, and included a fully operational, state-of-the-art laboratory in Frankfurt.

The acquisition included licensing for the IP to develop, produce, and sell Porocarb®, a high-performance porous hard carbon material developed over the last 10 years and patented by Heraeus to enhance the efficiency and speed of energy storage mechanisms. A number of global automakers are working to commercialize ASSB chemistries that will enable longer driving distances, faster charging and an overall safer energy storage system. Based on information from SNE Research and EV Tank, the solid-state battery market is expected to grow from approximately 2 GWh to an estimated 220 GWh by 2030, of which 60 GWh will be ASSB. Porocarb® plays a vital role in multiple battery applications (Fig.1).

It acts as a protective layer in ASSBs, enhances energy density and cycle life as a host material for active materials, and serves as an additive in LIBs to improve overall cell performance. Northern is advancing toward its goal of becoming a vertically integrated, mine-to-market supplier to traditional downstream customers and to the emerging market for battery anode material. The Company is progressing toward construction of a 200,000 tonne-per-year BAM plant in Baie-Comeau, Quebec, and is advancing technical relationships with multiple partners with the objective of securing the technology, engineering and financial partnerships necessary to develop BAM facilities in Baie-Comeau and elsewhere.